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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

2008: household wealth fell but debt levels rose

15/09/2009

According to official figures from the Bank of England and the Office for National Statistics, household wealth fell by an average of almost £31,000 in 2008 due to the recession and the credit crunch, The Telegraph reports.

Yet despite the fall in household wealth, people continued to take on debt last year.

The value of outstanding mortgage debt rose from £1.187tn to £1.225tn in 2008, while at the same time, the amount of unsecured debt - taken on via credit cards, overdrafts and unsecured loans, for example - increased by £12bn to £234bn.

A spokesperson for Debt Advisers Direct commented: "The figures from 2008 may show long-term trends in terms of how people handle their money, but the latest figures from the Bank of England do show that in July this year, more money was actually repaid than taken out - suggesting that many people chose to repay their debts rather than borrow more."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according